It never hurts to have these kinds of tools to protect your family and your business. We tell you how to choose the best offer.
Daily life exposes us to risky situations that can strongly affect personal finances. On any given day, an illness can destroy everything we have worked for.
Situations such as disability or death can destroy the heritage that we have built for our family; for this reason, it is important to have life insurance that protects our loved ones when we can no longer do so.
The offer of policies in the market is very large, so HiR Seguros recommends following some steps before choosing a tool that suits our needs.
1. Get familiar with the vocabulary. It is important to know some terms that help you make a good decision.
- Coverage: is the specific risk for which the insurance will protect you.
- Policy: it is the document that contains the general rules of your insurance.
- Insured sum: refers to the maximum amount that the company will pay you if the covered claim occurs.
- Premium: refers to the cost of insurance.
2. What do you want to insure? There is unemployment, medical, auto, real estate, or personal insurance. Prioritize your needs and be prospective, analyze what things or who are vulnerable.
3. Financial dependents. Consider if you have small children or if they are studying, are single or retired; how much income besides yours it will compromise.
4. What coverage do you have? Coverage is commonly for death, damage to third parties, or disability; however, you can opt for terminal or serious illness or funeral expenses. It is suggested that the coverage goes from five to eight times the current income.
5. Define your budget. Think about how much you earn and how much you could use to pay for your insurance.
6. Review options. The insurer can be a bank or perhaps a specialized company, consider the trajectory, presence in the city and country, prices, and its strength in the sector. The insurer must have physical offices and permanent service websites, as well as alternative means of communication.
7. Seek advice. There are insurance agents and insurance brokers. The first are people who guide you on existing insurance and make you a tailor-made plan. Meanwhile, the broker is an intermediary for several companies, which are dedicated to marketing contracts and insurance policies to their clients.
8. Compare. Many times the decision for insurance is only motivated by the price, however, the idea is to make an evaluation of the advantages and disadvantages of each option.
9. Organize your income. Look for payment plans that do not compromise other necessary expenses in your family.
10. Beneficiaries. Clarify the name and percentage that will be awarded, remember that they cannot be minors. Avoid intermediaries, if you designate someone else to deliver the insured sum, this action is only a moral obligation.